Taper Tantrum 2.0

The Bond Market Is a Powder Keg. Can the Fed Defuse It?
https://www.bloomberg.com/opinion/articles/2021-11-01/fed-meeting-bonds-are-a-powder-keg-can-the-central-bank-defuse-it
“Taper Tantrum 2.0 has arrived just as the Federal Reserve plans to start scaling back its asset purchases. This time is different from the original edition in 2013 in a few important ways — raising the stakes for Chair Jerome Powell and the central bank, which will issue its latest decision at the conclusion of its meeting on Wednesday.
First, unlike eight years ago, traders in the $21.9 trillion U.S. Treasury market clearly understand the playbook: a combination of tapering and a potentially accelerated pace of interest-rate increases means a sharply flatter yield curve”.